Interest Credit. As of the end of each month subsequent to September 30, 2004, the Employer shall credit interest to such notional account an amount equal to the product of (a) 1/12 of the interest crediting rate for the calendar year and (b) the Employee's account balance at the beginning of the month.
Interest Credit. The Funds Withheld Account/Profit Sharing Account shall be credited monthly, as of the end of the each month, with an Interest Credit rate equal to .2466% (point two four six six percent) multiplied by the beginning monthly balance of the Funds Withheld Account/Profit Sharing Account for the respective month, to achieve an annual effective yield of 3.0% (three point zero percent). In calculating the beginning monthly balance, all amounts due to either party shall be deemed settled, effective as of the actual date when such items were due pursuant to the terms of this Agreement in accordance with Article 13, Accounts, Remittances and Loss Settlements. Interest Credit shall continue even in the event of the Company's insolvency.
Interest Credit. The Deferral Account shall be credited on the payment date provided in Paragraph 4 with interest on Deferred Amounts (consisting of cash) from the respective Deferral Dates to the payment date. The interest rate(s) to determine such interest shall be the same interest rate(s) applicable to the relevant periods of time as shall be applicable to employee contributions under the Company's Benefit Restoration Plan, and if the Benefit Restoration Plan shall cease to be in effect, then at such interest rate(s) as shall be established from time to time by the Compensation Committee of the Board of Directors of the Company. No interest shall be credited to Deferred Amounts consisting of shares of stock or other property, as dividends and other distributions, if any, credited to the Deferred Account with respect to shares of stock or other property shall constitute the only earnings with respect to such non-cash property.
Interest Credit. The Settlement Account shall be maintained as a separate account, which shall bear interest at the rate negotiated from time to time between APX and the Depository and Clearing Agent. On the tenth Business Day of each month, a credit shall be made to the Settlement Account in an amount equal to the interest earned on funds deposited in the Settlement Account more than one Business Day prior to transfer of such funds out of the Settlement Account, including pursuant to Section 2.5 or Section 2.7. Not less frequently than annually, APX shall direct the Depository and Clearing Agent to distribute to the Participant, to the extent that sufficient funds remain in the Settlement Account, an amount equal to the interest credits made pursuant to Section 2.4 with respect to funds remaining on deposit in the Settlement Account for more than one Business Day.
Interest Credit. If Freddie Mac holds a Guaranteed Mortgage with respect to which interest credits are payable by the Secretary and the Secretary cancels such credits due to a borrower default, as provided in section 4.10(E) of the Handbook, only interest credits related to interest accruing after the date of the Secretary's notice to Freddie Mac or the Subservicer of such cancellation will be deemed unearned. Such a cancellation will not deprive Freddie Mac of the right to receive interest credits with respect to interest accrued prior to the cancellation, even if, because interest credits are paid less often than monthly, the credits with respect to such accrued interest are not payable to Freddie Mac until after the cancellation.
Interest Credit. If you select to maintain your Ticket Credit, you will receive an Interest Credit in a credit in an amount equal to 7% of the original ticket amount for both Unused Credits and Partial Unused Credits, valid for one year from issuance.
Interest Credit. The Monetary Reserve Account shall be maintained as a separate account which shall bear interest at the rate negotiated from time to time between APX and the Depository and Clearing Agent. For purposes of the amount required to be maintained by the Participant as a Monetary Reserve Facility, on the tenth Business Day of each month, the Participant shall receive a credit in an amount equal to the interest earned on funds on deposit from time to time during the preceding calendar month Monetary Reserve Account. From and after such date, subject to Section 2.5, the Monetary Reserve Account shall include the amount of such interest credit as funds on deposit in the Monetary Reserve Account. Not less frequently than annually, APX shall direct the Depository and Clearing Agent to distribute to the Participant, to the extent that sufficient funds remain in the Monetary Reserve Account (and provided that after any such withdrawal the Participant would be in compliance with its requirement to maintain a Monetary Reserve Facility), an amount equal to the interest earned on funds held on deposit in the Monetary Reserve Account.
Interest Credit. The Ceding Company shall report balances quarterly to the Reinsurers as soon as practicable but no later than 75 (seventy-five) days in arrears of each calendar quarter end. The Reinsurers shall not transfer or assign their rights to the Funds Withheld Account hereon unless this Treaty is surrendered and a new Treaty is issued. Under any and all circumstances, the Ceding Company must make a book entry of a transfer or assignment in order for such transfer or assignment to be valid. Upon finalization of the payment of all losses recoverable hereon and/or Commutation, if any, the Reinsurers will pay to the Ceding Company the entire amount of the remaining Funds Withheld Account balance, if any.
Interest Credit. This Interest Credit article will apply to all Subject Business included in this Agreement as listed in EXHIBIT A, the "Renaissance Re Group Business", EXHIBIT B and EXHIBIT B PRIME, the "Directed Business", and RUM will have the right to calculate a quarterly Interest Credit on the funds held by the Company in respect of the applicable Subject Business. The Interest Credit will equal the Average Quarterly Experience Account Balance multiplied by the applicable Average Quarterly one-year US Treasury Note rate. The Company agrees to provide the quarterly premium collected, loss and loss adjustment expenses paid and acquisition expenses paid for the purpose of this calculation, at the end of each Annual Period, and shall pay the Interest Credit concurrently with the Annual Profit Commission payment, if requested by RUM.
Interest Credit. This Interest Credit article will apply to all Subject Business included in this Agreement as listed in EXHIBIT A, the "Renaissance Re Group Business", EXHIBIT B and EXHIBIT B PRIME, the "Directed Business", and RUM will have the right to calculate a quarterly Interest Credit on the funds held by the Company in respect of the applicable Subject Business. As set forth in Appendix I hereto, the Interest Credit will equal the Average Quarterly Experience Account Balance (as defined in Article III herein) multiplied by the applicable Average Quarterly one-year US Treasury Note rate (as defined in Article III herein). The Company agrees to provide the quarterly premium collected, loss and loss adjustment expenses paid and acquisition expenses paid for the purpose of this calculation, at the end of each Annual Period, and shall pay the Interest Credit concurrently with the Annual Profit Commission payment, if requested by RUM.
